A crash course in changing the world.
It was in response to this realization that a group of monetary activists in Cape Town, South Africa, decided in 2002 to investigate the field of alternative exchange systems (otherwise knows as complementary currencies, social currencies, local currencies etc.) with a view to setting up an experimental local exchange trading system (LETS) in Cape Town. LETS as an alternative paradigm in monetary thinking started in Canada in the 1980s and quickly spread around the world, becoming popular in western Europe, and in Australia and New Zealand in particular. The basic idea of LETS is that members of a local community get together and compile lists of what they have to offer and what they require, whether it is goods or services. These lists circulate and members begin to trade. Instead of using an exchange medium that serves as an abstract representation of value (money), a central register is set up where members record who did what for whom and who supplied what to whom.
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